re you interested in making sure the voice of the employer is heard at one of the largest pension schemes in the UK?
Nest Corporation is currently looking for fresh faces on its Employers’ Panel.
The National Employment Savings Trust (Nest) is an occupational pension scheme. It's run as a trust-based scheme on a not-for-profit basis in the interests of its members. It offers a high quality, easy to use way to save for retirement and is now the largest defined contribution pension scheme in terms of members – there are currently over 10.4 million individuals saving with Nest. Nest currently manages over £20.9 billion in assets and supports over 930,000 employers in meeting their auto-enrolment duties.
Nest Corporation is the Trustee of the scheme and is a public corporation based in London. It is independent of government but accountable to Parliament through the Department for Work and Pensions. Nest is funded by a loan from government which will be repaid through member charges. We will eventually become self-financing as assets under management grow while providing consistently low charges, high-quality investment practices and expert governance to members.
More information on Nest, its Board and its Executive Committee can be obtained from the Nest website: Nest Corporation Annual Report and Accounts, Nest Scheme Annual Report and Accounts and the Corporate Plan.
The role of the Employers’ Panel
The Employers’ Panel was set up by the Pensions Act 2008 to ensure that the interests of employers using Nest are represented. The Panel acts in an advisory role and:
- Works with Nest to provide an employer’s perspective by responding to requests for views and by raising issues of concern. This includes representation of Nest Connectors who may act as an intermediary and/or on behalf of employers;
- Adds to Nest’s assurance framework through careful consideration of regular reports to the Panel on Nest priorities and activities, and; through reviewing and questioning the corporate and complaints dashboards received at each meeting. Key messages from the Panel meetings are reported to the Board to support that assurance framework;
- Is consulted in relation to any changes to the Statement of Investment Principles (“SIP”);
- When it is considered that it would advance the interest of Nest employers, the Panel may make representations to outside bodies, such as submissions to government reviews and Parliamentary Select Committees via Nest; and
- Provides an annual assessment to the Nest Board in an annual report of how well it thinks Nest is serving its existing and potential employers.
- Additional examples of topics previously reviewed and discussed at Panel meetings during 2020-2021 include:
- Review of the Customer Service Improvement Programme, which is focussed on delivering changes to improve the Nest customer experience through an outcome-based approach;
- Review of the ‘Business-to-Business-to Consumer’ initiative which is a concept about utilising the employer as a communications channel to members;
- Responsible Investment;
- Employer value analysis / Approach to Nest’s small and micro employers;
- Nest brand strategy;
- Future Service Implementation Programme and Nest’s transition to a new scheme administration in 2023.
As a Panel member you will be part of a small group of between 9 and 12 members that has an advisory role to Nest Corporation on a range of matters that affect the hundreds of thousands of employers who are using the scheme.
This is an exciting time for Nest and we are seeking two enthusiastic individuals to join our already established Employers’ Panel.
We are particularly keen to hear from small or micro business owners and employers, connectors and intermediaries to those working for large corporations or have experience of supporting these types of employers. We are also keen to hear from those who work in the payroll and human resource trade sectors, though this is not a mandatory requirement. Nest also welcomes the demographic spread of its Panel members.
To be successful in this role you should have a genuine interest in Nest and be able to provide insight from the perspective of our employers. You will also be a good team player with excellent communications skills and a sense of service. We encourage our members to actively participate in meetings by sharing their views and challenges and to be respectful of the opinion of others.
Time commitment including meetings and reading time is at least six days a year.
For more information on the Employers’ Panel, please visit:
Principal Terms and Conditions
Remuneration: £150 per month.
Time Commitment: You will need to be able to commit to at least 6 days a year which includes attending four quarterly Panel meetings, participating in a Joint Panel and Board meeting once per year and potentially 1-2 workshops per year.
Term: Four-year term with potential for reappointment.
Location: Panel meetings are usually held at Nest’s London offices, 10 South Colonnade, Canary Wharf, London, E14 4PU. However, in the current climate, some meetings may be held virtually or a hybrid of office and virtual meetings.
Expenses: Reasonable travel and subsistence expenses incurred while performing the role can be claimed, in line with Nest’s expenses policy.
Conflicts of interest: A member should avoid situations in which their Nest duties and private interests’ conflict or where there could be a suspicion of conflict. Candidates must declare any personal or business interests which may, or be perceived to, influence your judgments in performing your functions.
How to Apply
To apply for this role, please send your CV and a supporting cover letter to our Careers inbox: email@example.com
Please note that both documents are required for your application to be considered.
Please note that the initial assessment of your suitability against the role criteria will be made only from the evidence you set out in your covering letter and CV.
A shortlist of candidates will be selected for panel interview during the week commencing 1 November 2021.
During the period following appointment the successful candidate will be required to undertake familiarisation and orientation activities. Subject to obtaining all necessary approvals in time, we are aiming for the successful candidate to take up post by 30 November 2021, possibly earlier.
Indicative Recruitment Timeline [subject to change]
Closing date for applications: 25 October 2021
Interviews: week commencing 1 November 2021
Approval of appointment by Nest: November 2021
Term start date: 30 November 2021
These dates are accurate at the time of writing but are subject to change.
Nest is committed to ensuring equality of opportunity and that all our systems and processes are fair, open and objective. We endeavour to promote this approach in those with whom we come into contact. We are responsible for ensuring that the highest principles of equal opportunities policy are put into effect. Nest makes no distinction between people on grounds of their race, ethnic or national origin, age, religion or belief, sex, marital status, disability, part-time status or sexual orientation.
We hope to receive applications from a wide range of individuals and backgrounds.